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Indian firms seek investment opportunities in southern Vietnam

Indian firms seek investment opportunities in southern Vietnam

Wednesday, March 06, 2024, 12:58 GMT+7
Indian firms seek investment opportunities in southern Vietnam
Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, says that Indian enterprises are interested in investing in southern Vietnam. Photo: Chi Hanh / Tuoi Tre

Indian enterprises are keen on investing in economic centers in southern Vietnam, specifically Vinh Long Province, and are seeking cooperation opportunities there, according to the Consulate General of India in Ho Chi Minh City.

Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, said during a conference on Tuesday that Indian businesses aspire to collaborate with the Mekong Delta province of Vinh Long across various sectors, including tourism, education, health, information technology, and trade, in the future.

Vinh Long exported some US$1.33 million worth of products, mainly footwear and apparel products, to India last year.

The province spent around $2 million on imports, mainly materials for pharmaceutical products and cattle feed, from the South Asian country, according to vice-chairman of the People’s Committee of Vinh Long Province Dang Van Chinh.

During the Indian consul general’s trip with Indian trade representatives, Vinh Long introduced its strengths in human resources, agriculture, and agricultural product and seafood processing.

The province is a major fruit producer, boasting an annual output of over 1.2 million metric tons, including pomelo, orange, longan, and rambutan.

It is also home to well-known craft villages, such as those making bricks, ceramics, and handicrafts.

The Vinh Long administration introduced 12 projects which need a combined investment of more than VND13.7 trillion (US$552.4 million) to Indian firms.

Provincial leaders were committed to accompanying investors and supporting them to remove obstacles during their investment in the province.

Sethi praised the potential, advantages, and collaboration opportunities with Vinh Long Province and Vietnam as a whole.

He said he was confident that the collaboration between Indian and Vinh Long enterprises would pave the way for the development of agriculture and agricultural machine manufacturing sectors.

India pays much attention to the cooperation with not only Ho Chi Minh City but also other economic centers in the south, specifically Vinh Long, the consul generall added.

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Thanh Ha - Chi Hanh / Tuoi Tre News


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